The Federal Reserve Bank of New York works to promote sound and well-functioning financial systems and markets through its provision of industry and payment services, advancement of infrastructure reform in key markets and training and educational support to international institutions.

The New York Fed engages with individuals, households and businesses in the Second District and maintains an active dialogue in the region. The Bank gathers and shares regional economic intelligence to inform our community and policy makers, and promotes sound financial and economic decisions through community development and education programs.

Or Shachar is an Economist in theCapital Markets Function at the Federal Reserve Bank of New York. Her main research interests are in credit risk and credit derivatives, over-the-counter markets, and market frictions.